Amazon is releasing its homegrown forecasting system as an on-demand service on AWS.
Amazon Forecast is a fully managed service that uses machine learning to deliver highly accurate forecasts based on the same technology that powers Amazon.com.
“Amazon Forecast now offers the forecasting expertise from Amazon’s first 25 years of building the world’s largest ecommerce business in a managed service for any company to leverage,” said Swami Sivasubramanian, Vice President, Amazon Machine Learning. “We’ve built sophisticated, machine learning forecasting algorithms over many years that our customers can now use in Amazon Forecast without having to know anything about machine learning themselves. We can’t wait to see how our customers use the service to reduce operating expenses and inefficiencies, ensure higher resource and product availability, deliver products faster, and lower costs to delight their customers.”
Amazon Forecast can be used to build precise forecasts for business conditions, including product demand and sales, infrastructure requirements, energy needs, and staffing levels.
Puget Sound Energy (PSE), which serves 1.1 million electric customers and 825,000 natural gas customers, is using Amazon Forecast to forecast electric and gas consumption at a typical residence.
ouses forecasting to make sure that the right product is in the right place at the right time by predicting demand for hundreds of millions of products every day.
Amazon Forecast is available today in US East (Ohio), US East (N. Virginia), US West (Oregon), Asia Pacific (Tokyo), Asia Pacific (Singapore), and EU (Ireland) with more availability zones coming soon.
